Staff at Swindon's Patisserie Valerie keep their jobs in wake of widespread closures

By Ben Fitzgerald - 23 January 2019

CommunityBusiness

Staff working at the Swindon branch of Patisserie Valerie are not among those immediately affected by the 70 immediate café closures following the firm’s collapse into administration.

Administrators KPMG announced the closures after the failure of rescue talks with banks.

And the Swindon branch – in Unit 59 of the McArthur Glen Outlet Village – is one the remaining 121 that will continue trading in the hope of finding a buyer.

When contacted by Swindon Link, a member of staff confirmed that the store would remain open for the foreseeable future "as far as we know".

KPMG said about 900 of the 3,000 staff may lose their jobs.

In October, Patisserie Valerie said that it did not have enough money to meet debts and uncovered "significant, and potentially fraudulent, accounting irregularities".

Finance director Chris Marsh has been arrested after having been suspended by the company when the financial irregularities were uncovered. 

Also under investigation, by the Financial Reporting Council, are former Patisserie Valerie auditors Grant Thornton.

KPMG said: "Our intention is to continue trading across the profitable stores, as collectively, the brands have a strong presence on the high street and have proven very popular with consumers. At the same time, we will be seeking a buyer for the business and are hopeful of a good level of interest.

"Unfortunately, however, we have had to take the difficult decision to close 70 stores resulting in a significant number of redundancies. We will be working with those affected employees, providing all support and assistance they need."

Your Comments

Be the first to comment on this article

Login or Register to post a comment on this article

Registered in England & Wales. No: 4513027, Positive Media Group, Old Bank House, 5 Devizes Road, Old Town, Swindon, SN1 4BJ